Kenya’s mobile money transfer subscriptions reached 24.8 million as of 31 March 2016. During this time, the number of mobile money agents grew to 147,761 compared to 141,542 agents recorded the previous quarter. This is according to a report via Telecompaper.
According to the report, statistics from the Communications Authority of Kenya (CA) for the Q3 shows the volume of transactions (deposits and withdrawals) on this platform was registered at 348.8 million, with KES 840.3 billion transferred among users during the period.
The report further revealed that mobile commerce recorded 190.3 million transactions that saw KES 312 billion used to pay for goods and services. The person-to-person transfers stood at 396.7 billion as at the end of the quarter under review.
According to the data, provided by Telecompaper, there was increased activity in the mobile money service during the period and this was attributed to the busy back-to-school season during which parents and guardians actively deposited, transferred, withdrew, paid school fees and purchased other goods and services using this platform due to its reliable and convenient nature.